Blockchain remakes of popular Atari games in the works

Atari, an iconic consumer brand and interactive entertainment producer, announces that it has entered into a license agreement with Animoca Brands Limited, a subsidiary of Animoca Brands Corporation Limited (listed on ASX: "AB1"). The Agreement grants Animoca Brands the rights to produce and publish blockchain versions of the popular Atari mobile game titles RollerCoaster Tycoon® Touch™ and Goon Squad™ globally (excluding China, Hong Kong, Taiwan, and Macau). The new titles will feature the integration of non-fungible tokens (NFTs). The term of the Agreement extends through to 31 March 2022. Animoca Brands expects to publish the games in the latter half of 2019.

Additionally, Animoca Brands and Atari entered into a memorandum of understanding to develop a strategic partnership to explore mutual opportunities in gaming, product development, blockchain, and other areas.

RollerCoaster Tycoon Touch has over 19 million downloads globally and has benefited from the successful launch of the water park expansion in July 2018, as well as the addition of new restaurant features in September 2018 in partnership with Foodgod (aka Jonathan Cheban), famous for his reality show appearances on the hit television show "Keeping Up with the Kardashians," and who possesses a community of three million followers.

Goon Squad drops players into an underworld ruled by mobsters, gambling, and fast-paced card battles. Players plot a path from lowly Goon to all-powerful Godfather in this free-to-play title, collecting cards to rise through the ranks and build the ultimate criminal empire.

As consideration for the license to develop and publish the Games, Animoca Brands will pay to Atari a minimum guarantee against future revenues of US $250,000, payable in shares of the Company’s stock (listed on ASX: "AB1"). A revenue share will be payable to Atari after gross revenues generated by the Games exceed a total of US $500,000.

The shares offered in consideration to Atari will be subject to a lock-up period of nine months from the effective date, and will be released from lock-up in a phased schedule extending through 31 August 2019.

Yat Siu, the co-founder and chairman of Animoca Brands, said: “This deal marks a special moment for me because I started my career working with Atari and using Atari computers. The RollerCoaster Tycoon franchise is, like many of Atari’s properties, a true evergreen, having been around for two decades. Given the strategic and commercial elements of this incredibly fun simulation, it is a perfect candidate for blockchain adaptation.”

Frédéric Chesnais, the main shareholder and CEO of Atari, commented: “We are proud and delighted to enter into this long-term and strategic relationship with Animoca Brands, which also allows us to become a shareholder in one of the most exciting innovators in the world of decentralized gaming. We hope that this agreement paves the way to further cooperation on other Atari products.”